Mumbai-based mobile application and distribution firm Onward Mobility has raised Rs 18 crore from IndoUS Venture Partners and Qualcomm's venture capital investment arm, Qualcomm Ventures. Mumbai-based investment bank Consort Capital was the advisor for the deal.
The funds will be utilised to expand product offerings, retail distribution reach and for hiring key employees.
This is the series A round of funding for the firm, which had raised over $1 million in 2010 from the network of angel investors Mumbai Angels.
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